SOLG ALPALA MRE3 Available, page-35

I listened in as well and would add some points.

NM was talking 2 studies. PFS end of Q3 2020
Bankable study end of Q1 2021.

PFS probably doesn't need additional drilling.

Ingo Hoffmeier seems a very confident guy. He reiterates 2 weeks possible for USD 150 Mio funding through PFS.
(smelters or traders)Cornerstone question

NM thinks low oil price makes for a strong case that Ecuador will become a mining Nation.

Cornerstone TO reply very wishy washy.

Citi appointed as TO defense advisor. NM thinks SOLG very much underalued.

Regional projects on hold due to Covid 19. Rio Amarillo ready to go (close to Cascabel). Southern Ecuador is more affected by Covid 19.


All in all great Q & A. It looks like NM wants to do it. He will listen to BHP NCM, but they have nothing to decide. TO price for Alpala would be too high because of Tax reason.